Nomination for the election of Directors to the National Urban Cooperative Banks and Credit Societies (NAFCUB) has begun on 29th May. NAFCUB is the apex level promotional body of urban cooperative banks and credit societies in the country. The federation is registered under the Multi State Cooperative Societies Act with the Central Registrar of Cooperative Societies.
Ninteen (19) directors will be elected. The entire country has been divided into 19 constituencies. State federations have 9 seats while urban cooperative banks have 7 seats.Credit societies have been accorded 2 seats.There is just one government nominee.
The elections are fought with lots of gusto as in last election for 7 constituencies of urban cooperative banks about 12 candidates were in fray.By 3RD June when the date for nomination ends the who all is fighting will be known.
The scheduled date for election is 5th June. Election will encompass whole of India from Kashmir to Kanyakumari..
Urban cooperative bank is one of the successful experiments of cooperative movement and are indeed mostly doing great job, with some exception, both in urban and rural areas. It ventures into such tough terrain where the commercial banks fight shy of even entering. Run by grass root level members, some of the UCBs have become pride of their areas.
According to NAFCUB’s about one thousand societies are members of NAFCUB and are participating in this election.
Three states Maharashtra, Gujarat and Karnataka have highest number of voters. Voting is done on individual basis though sometimes it is fought on the lines of panel. If a strong panel emerges, individual candidate has no chance but if two or more panels are on the scene, a keen contest follows. The contour of elections has yet to emerge as backroom politics are yet not making themselves public. Watch these lines for the unfolding details in the coming days.